Required: 1. Calculate the dollar value of ending Inventory and cost of goods sold using: (Round your intermediate calculations and final answers to 2 decimal places) Ending Inventory FIFO S Moving weighted average S Sales Cost of goods sold Gross profit Cost of Goods Sold 10.626.00 $ 12.041 20 S 2. Using your calculations from Part 1, complete the following schedule: (Round your intermediate calculations and final answers to 2 decimal places.) Moving Weighted Average 74 470 80 FIFO $ 75,836 00S 75,030.00 74.421 55 3 Il
Required: 1. Calculate the dollar value of ending Inventory and cost of goods sold using: (Round your intermediate calculations and final answers to 2 decimal places) Ending Inventory FIFO S Moving weighted average S Sales Cost of goods sold Gross profit Cost of Goods Sold 10.626.00 $ 12.041 20 S 2. Using your calculations from Part 1, complete the following schedule: (Round your intermediate calculations and final answers to 2 decimal places.) Moving Weighted Average 74 470 80 FIFO $ 75,836 00S 75,030.00 74.421 55 3 Il
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 50E: Inventory Costing Methods Crandall Distributors uses a perpetual inventory system and has the...
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